Meghalaya Govt increases its fiscal deficit by 3.5 per cent

Syllad | The Rising MeghalayaJanuary 12, 2025

The state Cabinet on Friday approved the proposal to increase the fiscal deficit by 3.5 per cent.

“We have approved the amendment of the Meghalaya Fiscal Responsibility and Budget Management Act, 2006 to allow our fiscal deficit to go up to 3.5 per cent for this year,” Chief Minister Conrad K Sangma told reporters after the meeting.

He said this is being done annually as per government of India’s provisions and permissions to have the fiscal deficit from 3 per cent to 3.5 per cent.

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Further, the state government has also approved the proposal to authorise the deputy commissioner to facilitate the process of land required for the New Shillong Water Supply Scheme (NSWSS).

“A small plot of land is required by the PHE department. So the DRDA, that is the DC will be the authorized agency to accordingly do the necessary purchase and this was again approved by the Cabinet today,” the CM said.